The Bitcoin Lightning Network

If you haven't read about the Lightning Network (I didn't get the time 'till this past week) go check it out. 

Right now the "problem" with Bitcoin is that every transaction has to be sent to everyone else. Lightning is a really cool way to use is what is essentially new form of partnership (without the paperwork) between people who don't need to trust each other and use those partnerships as a way to send small amounts of money around between pairs of people. Lightning describes a system where economic incentives get most of the people to behave properly (ie. not cheat or steal others' money) with a technical back up that uses code to penalize people that do cheat. Very cool!


Want to receive more content like this in your inbox?